Move to FLARE NETWORKS TO FIX GAS PROBLEM

Please integrate with FLARE NETWORK, it’s used the EVM so smart contracts can be copy and pasted, but instead of POW or POW which are slow and expensive, it’s used FBA for consensus (like the XRP ledger).

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Could you provide more information about Flare? About their website, ecosystem? Because we need a big stable coin basis for the FPO model to survive on a particular chain.

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Are the pools on different chains (so far Wan and Eth) cross collateralized or are they isolated collateral pools with separate risk profiles?

I think the fee problem with ETH is significant enough to have make drawing liquidity from multiple chains a necessary development path to hedge against the fee problem limiting the actual use of the collateral in the pool. If the fees are high enough they will eat into the profit from exercising any option which in turn will depress option purchasing volume and reduce the premiums collected.

High gas on ETH is really a problem.
But IMO, it is a better choice for us to move to Polkadot, Cosmos, Near or BSC.
They are more famous and has the potential to be strong competitors against Ethereum.

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I don’t know Flare.
If FNX is doing other chains, it’s better Polkadot.

The website is https://flare.xyz/

They use Ethereum Virtual Machine, however their mechanism for validations is Federated Byzantine Agreement. They also have an oracle time series, that pays rewards to data contributors. I believe anyone can use the data feeds pretty much for free. The gas fees are negligible, similar to the xrp ledger and the platforms doesn’t have any risks regarding to 51 percent attacks and can scale with value, as the value (native token) is not used to secure the network. The have F-Assets, which are wrapped assets in a trustless way, so people who have dodge, litecoin, XRP, XLM etc… can use their tokens and have smart contract Functionalities. Gala Games (Founded by Eric Schiermeyer (the co-founder of Zynga and gaming legend)), have started the transition to Flare (Gala Gaming: The dawn of gaming on Flare), as they were too dealing with very high distribution fees with etheruem ( $12,000 usd per distribution).

Having really negligible gas fees, will allow users who want to transfer small amounts or only have small amounts, to be part of the liquidity pools (aka making it more decentralized).

Flare Finance (not related to Flare Networks) have already created products on the flare network’s testnet → https://flr.finance/, they have seen huge transaction in the community.

By the way Flare Network will launch their main net Q1 or early Q2, however they do have their testnet (GitHub - flare-eng/coston: Coston is a test network for Flare, a next-generation blockchain which enables smart contracts with XRP that settle on the XRP ledger.) for the public to access and code on.